Par Capital Management - Q2 2023 holdings

$2.87 Billion is the total value of Par Capital Management's 45 reported holdings in Q2 2023. The portfolio turnover from Q1 2023 to Q2 2023 was 32.6% .

 Value Shares↓ Weighting
EXPE SellEXPEDIA GROUP INC$371,926,000
+9.5%
3,400,000
-2.9%
12.95%
+3.6%
WEX SellWEX INC$337,557,780
-1.1%
1,854,000
-0.1%
11.75%
-6.4%
BKNG SellBOOKING HOLDINGS INC$324,039,600
-2.3%
120,000
-4.0%
11.28%
-7.5%
UBER SellUBER TECHNOLOGIES INC$302,190,000
+11.4%
7,000,000
-18.2%
10.52%
+5.4%
SYF BuySYNCHRONY FINANCIAL$284,928,000
+18.1%
8,400,000
+1.3%
9.92%
+11.7%
DAL SellDELTA AIR LINES INC DEL$214,918,832
+25.6%
4,520,800
-7.7%
7.48%
+18.8%
CAR BuyAVIS BUDGET GROUP$116,190,428
+26.3%
508,114
+7.6%
4.05%
+19.5%
UAL SellUNITED AIRLS HLDGS INC$113,767,458
+16.9%
2,073,400
-5.8%
3.96%
+10.5%
TRIP SellTRIPADVISOR INC$89,046,000
-21.3%
5,400,000
-5.3%
3.10%
-25.6%
LUV SellSOUTHWEST AIRLS CO$72,420,000
-13.3%
2,000,000
-22.1%
2.52%
-18.0%
ALK  ALASKA AIR GROUP INC$63,816,000
+26.7%
1,200,0000.0%2.22%
+19.9%
SCHW SellSCHWAB CHARLES CORP$63,765,000
-34.6%
1,125,000
-39.5%
2.22%
-38.1%
AXP  AMERICAN EXPRESS CO$60,970,000
+5.6%
350,0000.0%2.12%
-0.1%
AAL  AMERICAN AIRLS GROUP INC$50,232,000
+21.6%
2,800,0000.0%1.75%
+15.1%
CARG SellCARGURUS INC$42,834,064
-39.5%
1,892,800
-50.1%
1.49%
-42.8%
ABNB  AIRBNB INC$38,448,000
+3.0%
300,0000.0%1.34%
-2.5%
SNCY  SUN CTRY AIRLS HLDGS INC$33,720,000
+9.7%
1,500,0000.0%1.17%
+3.7%
ULCC SellFRONTIER GROUP HLDGS INC$32,125,674
-1.8%
3,322,200
-0.1%
1.12%
-7.1%
ALGT SellALLEGIANT TRAVEL CO$31,570,000
+14.4%
250,000
-16.7%
1.10%
+8.2%
TRVG  TRIVAGO N V$29,153,292
-12.6%
22,085,8270.0%1.02%
-17.3%
 AVIDXCHANGE HOLDINGS INC$25,950,000
+33.1%
2,500,0000.0%0.90%
+25.9%
CMA BuyCOMERICA INC$21,180,000
+143.9%
500,000
+150.0%
0.74%
+130.3%
JBLU  JETBLUE AWYS CORP$17,720,000
+21.7%
2,000,0000.0%0.62%
+15.1%
GDOT  GREEN DOT CORPcl a$16,866,000
+9.1%
900,0000.0%0.59%
+3.2%
SQ NewBLOCK INCcl a$16,642,500250,000
+100.0%
0.58%
SABR SellSABRE CORP$16,441,260
-28.4%
5,154,000
-3.7%
0.57%
-32.3%
WBS  WEBSTER FINL CORP$14,156,250
-4.2%
375,0000.0%0.49%
-9.4%
H BuyHYATT HOTELS CORP$13,192,054
+17.8%
115,134
+15.0%
0.46%
+11.4%
ETSY BuyETSY INC$11,697,333
+1456.6%
138,250
+1948.1%
0.41%
+1353.6%
SKYW BuySKYWEST INC$9,709,318
+1522.0%
238,441
+783.1%
0.34%
+1436.4%
CVNA NewCARVANA COcl a$7,309,440282,000
+100.0%
0.26%
SOFI  SOFI TECHNOLOGIES INC$6,255,000
+37.4%
750,0000.0%0.22%
+29.8%
HTZZ BuyHERTZ GLOBAL HLDGS INC$3,678,000
+33.0%
200,000
+17.8%
0.13%
+25.5%
GOOGL BuyALPHABET INCcap stk cl a$3,508,130
+53.3%
29,000
+31.8%
0.12%
+45.2%
FB BuyMETA PLATFORMS INCcl a$2,525,424
+43.6%
8,800
+6.0%
0.09%
+35.4%
 VACASA INC$1,899,800
-29.5%
2,800,0000.0%0.07%
-33.3%
WH NewWYNDHAM HOTELS & RESORTS INC$1,851,39027,000
+100.0%
0.06%
SAVE NewSPIRIT AIRLS INC$1,793,220104,500
+100.0%
0.06%
EB BuyEVENTBRITE INC$1,403,850
+433.8%
147,000
+379.6%
0.05%
+390.0%
VLRS SellCONTROLADORA VUELA COMP DE Aspon adr rp 10$1,143,900
+9.5%
82,000
-2.4%
0.04%
+5.3%
Z BuyZILLOW GROUP INCcl c cap stk$904,680
+35.6%
18,000
+20.0%
0.03%
+28.0%
DASH NewDOORDASH INCcl a$917,04012,000
+100.0%
0.03%
TCOM NewTRIP COM GROUP LTDads$700,00020,000
+100.0%
0.02%
MAR NewMARRIOTT INTL INC NEWcl a$514,3322,800
+100.0%
0.02%
KMX NewCARMAX INC$418,5005,000
+100.0%
0.02%
SHOP ExitSHOPIFY INCcl a$0-6,500
-100.0%
-0.01%
JPM ExitJPMORGAN CHASE & CO$0-3,000
-100.0%
-0.01%
PYPL ExitPAYPAL HLDGS INC$0-6,000
-100.0%
-0.02%
UBER ExitUBER TECHNOLOGIES INCput$0-33,500
-100.0%
-0.03%
BAC ExitBANK AMERICA CORP$0-250,000
-100.0%
-0.26%
FRC ExitFIRST REP BK SAN FRANCISCO C$0-1,550,000
-100.0%
-0.80%
Original filings

The following EDGAR filing(s) were analyzed to create this report:

  • View 13F-HR filed 2023-08-14
Signatures

The EDGAR filing(s) were signed by:

About Par Capital Management

Par Capital Management is a Boston-based investment firm that specializes in the airline industry. The company was founded in 1990 by Paul Reeder and Edward Shapiro, both of whom had previously worked at Harvard Management Company. Since its inception, Par Capital has grown to become one of the most successful hedge funds in the world, with over $10 billion in assets under management.

The firm's investment strategy is focused on identifying undervalued companies in the airline industry and investing in them for the long term. Par Capital's portfolio includes a number of major airlines, including Delta Air Lines, United Airlines, and American Airlines. The company is known for its deep understanding of the airline industry and its ability to identify opportunities that other investors may overlook.

Par Capital is led by CEO Paul Reeder and COO Edward Shapiro, both of whom have extensive experience in the finance industry. The firm's Chief Investment Officer is William H. Spiegel, who has been with the company since 1999. Under their leadership, Par Capital has consistently delivered strong returns for its investors, with an average annual return of over 20% since its inception.

Overall, Par Capital Management is a highly respected investment firm with a proven track record of success in the airline industry. While past performance is not a guarantee of future results, the company's deep industry knowledge and experienced leadership team make it a compelling option for investors looking to gain exposure to the airline sector.

It's important to note that this information is for educational purposes only and has not been fact-checked. As with any investment, it's important to do your own research and consult with a financial advisor before making any investment decisions.

Top long-term holdings
NameQuarters ownedLatest quarter ownedMax weighting
EXPEDIA INC DEL42Q3 202322.2%
DELTA AIR LINES INC DEL42Q3 202314.3%
TRIPADVISOR INC42Q3 202314.4%
ALASKA AIR GROUP INC42Q3 20238.2%
CONTROLADORA VUELA COMP DE A38Q3 20231.1%
UNITED CONTL HLDGS INC37Q3 202324.2%
WEX INC36Q3 202313.0%
SOUTHWEST AIRLS CO36Q3 20235.2%
AMERICAN AIRLS GROUP INC35Q3 20235.1%
PURECYCLE CORP33Q2 20211.3%

View Par Capital Management's complete holdings history.

Latest significant ownerships (13-D/G)
Par Capital Management Q2 2023 significant holdings filed using form 13D/G when ownership exceeds 5% of a company's total stock issue.
FiledShares Percentage
Global Eagle Entertainment Inc.May 22, 201429,478,01141.0%
Orbitz Worldwide, Inc.November 16, 200924,624,12524.4%
US AIRWAYS GROUP INCMarch 17, 200611,768,48514.3%
DECKERS OUTDOOR CORPFebruary 14, 20061,147,5679.3%
D&K HEALTHCARE RESOURCES INCSold outFebruary 14, 200600.0%
FLYI INCSold outFebruary 14, 200600.0%
LODGENET ENTERTAINMENT CORPFebruary 14, 2006750,0004.1%
PURE CYCLE CORPFebruary 14, 20061,996,73913.7%
ULTIMATE ELECTRONICS INCSold outFebruary 14, 200600.0%
AMERICA WEST HOLDINGS CORPFebruary 14, 2005603,0001.7%

View Par Capital Management's complete significant-ownership history.

Latest filings
TypeFiled
13F-HR2024-05-15
13F-HR2024-02-14
13F-HR2023-11-14
13F-HR2023-08-14
13F-HR2023-05-15
13F-HR2023-02-14
13F-HR2022-11-14
13F-HR2022-08-15
13F-HR2022-05-16
13F-HR2022-02-14

View Par Capital Management's complete filings history.

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